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Inbursa Auto Insurance: everything you need to know

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Inbursa Auto Insurance: everything you need to know

Regardless of whether your vehicle is new or you already have a few years with it, having good car insurance is essential.

Failing in this election can have serious financial, legal and even health consequences. That is why it is increasingly important to have car insurance with which you feel properly protected.

The best way to achieve this is to have insurance that includes the coverage you need and that you understand correctly. We do not want a claim to cause you more stress or problems than it already implies.

That is why in Guros we have created a mega guide with the most important information of all the insurers that offer auto insurance in Mexico.

In each of the articles in this guide we put at your disposal information such as:

  • Price
  • Coverage packages offered
  • Payment Methods
  • Payment methods
  • Quality level in customer service
  • General information
  • Financial information

All these factors to help you make a well-informed decision, which allows you to reach the best option to choose the auto insurance that covers all your needs, according to your vehicle and your budget.

On this occasion, we will see the different options offered by Seguros Inbursa, a company belonging to Grupo Financiero Inbursa, with more than 48 years in the insurance market and the support of one of the most important banks in Mexico.

1. Inbursa Auto Insurance

1.1 Types of vehicles for which Inbursa offers its auto insurance

The motor vehicles for which you can take out auto insurance with Inbursa are the following:

  • Cars
  • Pickups
  • Motorcycles
  • Trucks

1.2 Vehicle uses covered by the Inbursa auto insurance

If you want to take out car insurance in Inbursa, it is important to mention that your car has to be for private use.

For other uses, the request must be made in person with an agent or at a branch.

1.3 Inbursa auto insurance packages and coverage

Like most insurers, Inbursa Insurance packages are divided into three coverage packages: Comprehensive, Limited and Civil Liability.

This insurer also offers an additional to the Amplia coverage, called Amplia Plus. This coverage includes an extra layer of protection to the car. In other words, the packages that Inbursa offers for your auto insurance are the following:

  • Extensive Plus
  • Wide
  • Limited
  • Civil Liability

In order to facilitate comparison between different insurers, for our Guros guide we include a table listing the protection and coverage included in the packages that insurers have in common:

Inbursa rating of compulsory insurance

8. 91. Position 5 of 23 insurance companies

In the qualification of the Compulsory Civil Liability Insurance , Seguros Inbursa has a good rating, which places it in the Top 5 of insurers in Mexico in terms of this insurance, mandatory to circulate on federal roads and highways.

1.4 Deductibles and insured amounts of the Inbursa auto insurance

Here you can see the insured sums and the deductible amount that you must cover in the event of a claim (if applicable or if the claim is covered by the chosen package) in your Inbursa auto insurance :

These amounts are the minimum with which the Inbursa auto insurance is quoted; However, it is possible to increase them through optional extensions, which must be contracted directly with an agent and / or in a branch.

1.5 General conditions of Inbursa auto insurance:

An informed decision is usually a good decision, therefore, it is recommended that before choosing an insurer, you at least take a look at their general conditions. In them you will get a good idea of ​​the coverage and the possible scenarios that you could experience with your car and auto insurance.

In the case of the general conditions of car insurance in Inbursa, you can review them in this link .

1.6 Inbursa auto insurance quote for 10 best-selling vehicles

We know that several readers of this guide may be in the process of buying a new car; To make life easier for them, at Guros we look for the price of the in Mexico, for which we use as a reference the Postal Code 06600 in Mexico City.

1.7 Inbursa accident and road assistance telephone number

In the event of a claim, if you have your car insurance with Inbursa, the numbers to communicate it and wait for the assistance of an adjuster are the following:

  • Mexico City: 5447 8080
  • Interior of the Republic: 01 800 911 9000

1.8 Other insurance and coverage offered by Inbursa

Inbursa has an additional coverage and protection package to the Amplia, called Amplia Plus, which includes the following benefits:

  • Elimination of Deductible for Total Theft
  • Daily Expense for Partial Loss
  • Total Loss Expense
  • Damage inside the vehicle
  • Crystals
  • Medical Expenses for Partial Theft
  • Benefits in the coverage of Material Damages
    • Unraveling
    • Vandalism

The Amplia Plus package is available only for cars and pickups for private use, with a maximum age of 15 years.

While in other operations and branches other than Automobiles, Inbursa offers the following insurances:

  • Life insurance
  • Medical Expenses Insurance
  • Home Protection
  • Medical Civil Liability

Before him Register of Insurance Adhesion Contracts (RECAS) of the Condusef, Inbursa has 87 types of contracts in general in all branches (of which, 11 are for automobiles).

2. Information about Inbursa

2.1 General Information

Inbursa was officially incorporated as such in May 1985, and since then, through various mergers, spin-offs and acquisitions of companies, it has gone through various branches and commercial sectors. But his background goes back to 1965, under the name of Inversora Bursátil SA, which in 1965 entered the insurance sector with the acquisition of Seguros de México (today Seguros Inbursa).

From 1992 was formally established as Grupo Financiero Inbursa, with This prompted the diversification of its financial services, which today include, among other products, a bank, an Afores system and different credit options.

Some information about the insurer:

Countries in which it operates

Seguros Inbursa operates in the 33 entities of the Mexican Republic.

Number of clients in Mexico and volume of premiums

In your Annual Report for the year 2017, Grupo Financiero Inbursa reports having 14, 927, 613 insured. This number represents the total of policies of all lines: Life, Accident and Illness and Damage. In the automobile industry, Inbursa has 495, 658 policies.

While in the billing area, the Solvency and Financial Condition Report of 2017 of Seguros Inbursa mentions that the data is $ 15, 951 million pesos in total; and for $ 4 automobiles, 580 millions of pesos.

Ranking in the Mexican insurance sector

To obtain the position that Seguros Inbursa occupies within the insurance companies in Mexico, we can use the statistics of the Mexican Association of Insurance Institutions (AMIS).

In the market in general, Inbursa occupied the place 10 of 84 insurance companies in 2017, with the 4.15% From the market.

While in the Automobile branch, the place that Seguros Inbursa occupies is 7 of 33, with 4.5% of the market.

2.2 Inbursa financial information

Inbursa's combined technical ratio

The Combined Technical Ratio (which can also be called Combined Ratio or Combined Index) shows us the operating results of each insurer, by means of the sum of the average costs of claims, acquisition and operation .

According to its Solvency and Financial Condition Report, for Seguros Inbursa, the Combined Index in all operations and branches within which it operates is 93. 46% ; while only for the Automobile branch it is 97. 46%.

Inbursa's turnover, cost per claims and loss ratio

Billing

As you could read a few paragraphs above, the total billing of Seguros Inbursa during 1992 was $ 19, 951 millions of pesos; In contrast, the net cost of claims reached $ 07, 069 millions of pesos.

In the automobile branch, Seguros Inbursa invoiced in 1992 for a total of $ 4, 580 million pesos, while the loss ratio was $ 2, 849 millions of pesos.

All these data, and the loss ratio, were reported by Inbursa in its Solvency and Financial Condition document.

The loss ratio

The loss ratio in all operations and lines reported by Seguros Inbursa was 70. 50%. Specifically for the automobile industry, the accident rate is 67. 03%.

Financial valuation

In December 2017, S&P Global Rating confirmed the rating of 'mxAAA 'for Seguros Inbursa, with a stable outlook.

2.3 Inbursa's quality of care information

In order for you to have the most complete information possible on the levels of customer service, at Guros we use different sources from official bodies to review the quality of each of the insurers we work with.

In this sense, Inbursa's results are as follows:

User Service Performance Index (Condusef)

Seguros Inbursa manages to place itself within the Top 20 of insurers in Mexico, obtaining a rating of 8. 56 which places it in the position 19 of 79 insurance companies within the IDATU 2017 .

Claims before the Condusef

During 2017, Inbursa received 578 claims before the Condusef within the automobile branch; Most of these claims were due to a denial or inattention to a cancellation request; or refusal to pay compensation.

Claims submitted on the total number of claims attended

If we take into account the total claims attended by Inbursa in Automobiles during 2017, the claims / claims ratio is 0. 33%; This number follows from the fact that the 578 claims came out of a total of 161, 638 claims.

Compared to other insurers in the Guros guide, we find that they handle ratios of 0.3% ( Quálitas ), 0. 07% ( Mapfre ) and 0. 22% ( HDI Seguros ).

Taking into account the Claim Index for each 10 thousand claims prepared by the Bureau of Financial Entities , Inbursa has a ratio of 43. 67 claims for each 10, 000 claims.

(Total Claims before Condusef / Total claims attended) 10, 000

Sanctions imposed on Seguros Inbursa

Of the claims imposed before Inbursa, only merited a sanction from the Condusef for $ 20, 428 pesos.

Average valuation to adjusters

In the section on qualifications for adjusters, Seguros Inbursa is the third insurer with the best rating, having an average of 8.5 about 10 with 92 Assessed adjusters in 182 reports. The average between the 26 insurers in this report is 4.2.

2.4 Inbursa aggregate values ​​

Among the added values ​​of Seguros Inbursa, we find the service guarantees that they offer when a claim is suffered, among which the following stand out:

Localization guarantee

They ensure to geolocate you through the i-mobile app and will contact you in the event of an accident through their mobile application, available for iOS and Android.

Service guarantee

Inbursa Insurance claims to arrive in less than 30 minutes to the place where the accident occurred or otherwise, deduct $ 200. for each minute of delay, until the 100% of deductible.

Guarantee payment

Finally, they assure that in case of total loss of the vehicle due to theft or material damage, you will be paid in a maximum of 48 hours.

For all these guarantees, terms and conditions apply that you can verify with an agent before hiring your auto insurance.

Additional discounts

Inbursa Insurance offers discounts on the price of your insurance based on the driver's profile data. You can get a better price based on your:

  • Age
  • Sex
  • Occupation
  • Postal Code
  • Way to pay

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